December 21, 2009

UA College Savings offers $25,000 Scholarship Account Giveaway

The University of Alaska College Savings Plan is holding a $25,000 scholarship drawing for those who check “yes” on Line 6 of the Alaska Permanent Fund Dividend application next year.

Line 6 is the line applicants use to indicate they wish to deposit half of their PFD into an existing or new college savings plan account. In addition to the $25,000 grand prize, which will be deposited into an account for the winner, the UA College Savings Plan will choose four additional $2,500 scholarship account prize winners. Parents are encouraged to check “yes” on both their own PFD application as well as their child’s to increase chances of winning.

“This drawing is just too good to pass up,” said Linda English, UA College Savings Plan director. “If you’ve already got an account, the PFD is an easy way to keep saving. If you don’t, sign up now and have a shot at winning a $25,000 account or one of the four $2,500 accounts.”

Plan beneficiaries can use the money to pay for expenses at any eligible college, university, or vocational/technical school in the country. If the beneficiary uses it for tuition at UA, $25,000 can be enough to pay for a four-year degree.

Anyone who contributes half of their 2010 PFD through the official application will be entered to win regardless of whether they previously opened or established a UA College Savings Plan account. The drawing will take place Nov. 1, 2010. Officials will contact winners via phone and/or mail prior to a public announcement. áThe Education Trust of Alaska, the trust established to administer the college savings program, is funding the scholarship giveaway.

The PFD application process begins Jan. 1 and runs until March 31, 2010. Applicants can apply online or visit a distribution center to pick up paper forms and additional information. For more information about the Alaska Permanent Fund Dividend, go to http://www.pfd.state.ak.us/. For more information about the UA College Savings Plan and the $25,000 Scholarship Account Giveaway, go to uacollegesavings.com.